M&E Biotech.
Early this year I was poking around the many IPOs. I remember becoming interested in Rigel, even though there was probably no other IPO farther away from real revenues. Something neat about manipulating disease states for protein discovery.
But Rigel missed the window, and now hope to come out with fewer shares for less money (though there will still be 40m outstanding). Interestingly, one issue 'expanded on' in the amended S-1 pertains to M&E. Here is the disclosure:
>>M&E Biotech A/S, a Danish biotechnology company, has received patent protection in European countries for a process similar to certain aspects of our technologies. We are currently reviewing their patent file and evaluating the
appropriate course of action. Currently, we are not in discussions with M&E with respect to a license of its patented technology. In the event we desire to seek a license from M&E, we may not be able to obtain a license on acceptable terms. Furthermore, such failure might adversely impact our collaborations with European partners or may materially adversely affect our business in the jurisdictions that may be covered by the patent protection. We are also aware that M&E has sought patent protection in Australia and the U.S., and has the option to seek patent protection in other parts of the world. If M&E were to
receive such patent protection, it might conflict with or overlap with the patent rights we are pursuing. We currently do not, and do not plan to, operate in any country outside the United States.
We are aware of the existence of a United States patent directed towards a general cloning system. It is possible that this patent could be construed to cover certain aspects of our technologies. If legal action were initiated on this patent, it could have the effects discussed above.<<
Do any of you with a view into the Danish biotech industry have any impressions of M&E, its technology, prospects?
Any one else with comments on what might be the 'general cloning system'?
--Wilder |
